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Genuine Parts Co. (NYSE: GPC), Atlanta, GA, reported 2018 sales of $18.7 billion, up 14.7 percent from the previous year. Profit increased 31.5 percent over the year to $810.5 million.
Sales for the fourth quarter for Genuine Parts were $4.6 billion, an increase of 9.4 percent over the same period in 2017. Profit increased 72.2 percent.
In 2018, Motion Industries was combined with the electrical/electronic materials segment to form the Industrial Parts Group. For the year, this group reported sales of $6.3 billion, up from combined sales of $5.8 billion the previous year. Profit increased 10.7 percent to $487.4 million.
Annual automotive group sales were $10.5 billion, up 23.5 percent from 2017. Profit increased 18.6 percent to $854.4 million.
"In 2018, we set new sales and earnings records, and our team did an excellent job of improving working capital and generating strong cash flows,” said Paul Donahue, president and CEO of GPC. “We also completed our first full year of operations in Europe and successfully combined EIS into Motion Industries to form a larger and stronger industrial business. With these and other accomplishments, and our plans in place for the new year, we are well-positioned to further strengthen our global platform in 2019, driving long-term sustainable growth and significant value for our shareholders."